U.S. factory activity in March was weakest since 2009: IHS Markit

Data firm IHS Markit said its final U.S. manufacturing Purchasing Managers’ Index fell to a reading of 48.5 this month, the lowest reading since August 2009. That was a downward revision from the ‘flash’ figure of 49.2 reported last week and lower than 50.7 reported in February. It blamed the drop on “widespread supply shortages linked to the COVID-19 pandemic.”

UK manufacturing hit by sharp contraction

UK manufacturing activity dropped significantly in March following the outbreak of coronavirus, according to a closely watched survey that showed output and new orders in the sector fell at the fastest rate since 2012.

The IHS Markit / Cips final manufacturing purchasing managers’ index, which surveys business leaders in the sector, fell to 47.8, a three-month low and down from 51.7 in February. Any reading below 50 indicates the majority of respondents reported a contraction in activity.

Eurozone manufacturing PMI slumps to 92-month low in March

The IHS Markit eurozone manufacturing purchasing managers index fell in March to 44.5 from 49.2 in February. That’s the lowest reading in 92 months but wasn’t a surprise as the flash estimate was 44.8.